LIVE BOZEMAN STYLE

Financing

Reliable Financing Recommendations

Cherry Creek



Charlsey Clone

Real Estate Lender

406.599.0356

cclone@guildmortgage.net

NMLS: 1893603


Cherry Creek

116 N Bozeman Ave
Suite 100A
Bozeman, MT 59715

Learn More

BOK Financial


Alex Barcza

Mortgage Banker

970.319.1379

abarcza@bokf.com 

NMLS: 374949


BOK Financial Mortgage

275 Main Street

Ste. O-207

Edwards, CO 81632

Learn More

Evergreen

Home Loans

Brett Evertz

Regional Manager

406.629.0132

bevertz@evergreenhomeloans.com

NMLS: 523473


Evergreen Home Loans

5 W. Mendenhall,

Suite 202

Bozeman, MT 59715

Learn More

First Security Bank

Tanner Aasheim

Mortgage Lender

Direct: 406-548-6958

tanner.aasheim@ourbank.com

NMLS: 892056


First Security Bank

208 W. Main Street

Bozeman, MT 59715



Learn More

Financing 101

What you'll need to apply for a Home Loan

Federal regulations are always changing, with stricter contract timelines being enforced. To ensure a smooth mortgage process and a reasonable closing timeline, it’s essential to verify you have taken all necessary steps in the pre-approval process. Providing all the information listed below at your first pre-approval meeting is critical. Anticipate spending an hour with your lender at the first meeting.

 

  • Income: Copies of your last two years of Federal Income Tax Returns, complete with all pages and W-2's as well as your two most recent pay stubs.
  • Assets: Your two (2) most recent months statements for all assets listed on your loan application, all pages are necessary (checking, savings, investments, 401K, IRA, etc...)
  • Letter of explanation: for any NSF charges on bank statements.
  • Gift Funds: ​If gift funds are used, a gift letter from the donor will be needed and a copy of the check or transfer of funds supplied to the underwriter. FHA loans require the last two months' bank statements from the donor, verifying that the donor can gift the funds.

 

 

  • Property Info: If this is a new purchase, a complete copy of the Buy-Sell Agreement with both Buyer and Seller signatures. (If this is a refinance, the Tax Parcel Number or Legal Description, along with a current mortgage statement.)
  • Additional Properties: A list of any properties to be retained, along with the property tax bill, annual insurance statement & mortgage statements (as applicable)
  • Divorce: If you are divorced, a divorce decree will be needed. If you receive alimony and child support or are obligated to pay either, bring applicable documentation (assignment of debt, division of property, etc...)

 

Mortgage Calculator
$
$
$
$
%
Monthly Payment
$ 0
Total Interest Paid
$ 0
Total Paid
$ 0

First-Time Home Buyer Savings Account

Montana residents can save money in a special savings account to purchase a first home and save on Montana Income taxes.

What are the basics?

 

  • Must be a first-time home buyer.
  • Funds withdrawn from a first-time home buyer savings account are not subject to Montana income taxation if used for eligible costs for the purchase.
  • Saving accounts can be established at any State or federally chartered bank, a savings and loan, a credit union, a trust company, a mutual fund company, or a brokerage firm.
  • The maximum amount that can be used to reduce Montana taxable income is $3,000 annually for each taxpayer.

 

Learn More

1031 Exchange

Find out if a 1031 Exchange might be suitable for you to protect you from taxation. 

What is an exchange?

 

  • A tax deferred exchange is a method by which a taxpayer trades property held for investment or business purposes for replacement property resulting in a deferral of tax on the transaction. When you sell a business or investment property and have a gain, you generally have to pay tax on that gain. This capital gains tax varies depending upon your particular situation.
  • 1031 Exchanges are often called “tax-free exchanges” as the transaction itself is not taxed. Section 1031 of the Internal Revenue Code provides an exemption from current recognition of realized gain, providing that the requirements of the IRC are carefully met. Using an exchange service will allow you to use more of your equity to acquire the property you desire by deferring capital gains tax. Learn More from the TFES website. 

 

Identification Rules Exchange Requirements Deferred Exchange

Financing Basics


If you are not buying your new home with your own capital (i.e., cash), a loan will be required. Make sure you select the right loan for you.

When applying for a loan, many factors should be considered. It is not simply a question of whether a loan can be obtained... for enough money, a loan will likely be possible.


Instead, the goal should be to get the right loan (and lender) for you. Remember, you will work closely with your lender for the next few months. It is imperative for you that they are an excellent fit for your real estate team.


Obtaining financing before searching for a home helps you determine a few key factors in your purchase. Does your loan type have any restrictions on location or property type? (Specifically, Rural Development and FHA Loans have  restrictions on location and/or property type.) 


I've included a snippet of my proprietary Bozeman HomeBuyers Guide here. This section includes a side-by-side comparison of different loan opportunities available today.


HōM 406 Financing Guide
a man and a woman are standing next to each other in front of a house .
Share by: